"The trading volumes these days are low, the leu is following the trend in the rest of the region, [...] It is also, to some extent, mirroring what happens on the capital markets [...] Local news have little to no importance at the moment," one dealer told SeeNews.
Dealers have said that over the next one or two weeks the leu's performance will depend mostly on the risk appetite of investors and will probably continue to shadow the development of peer currencies.
Romania's central bank, BNR, set its reference exchange rate used for statistical purposes at 3.7869 lei per euro on Wednesday, compared to 3.7677 lei on Tuesday. For the U.S. dollar, the reference exchange rate was set at 2.7822 versus Tuesday's 2.7572 lei.
Interest rates on overnight leu deposits edged up to an average of 11.77%/12.70% on Wednesday from 11.74%/12.68% on Tuesday.
Turnover on the interbank leu deposit market fell to 1,673 million lei on Tuesday from 1,854.8 million lei on Monday. The BNR will issue Wednesday's figures on Thursday.
Following are Wednesday's average bid and ask quotes of commercial banks on Romania's interbank market. They were calculated at 11 a.m. (0800 GMT) by the BNR, based on data provided by 10 commercial banks (in pct):
ROBID | ROBOR | |
ON | 11.77 | 12.70 |
TN | 11.88 | 12.76 |
SW | 12.33 | 13.51 |
1M | 14.18 | 15.74 |
3M | 14.38 | 15.97 |
6M | 14.33 | 16.53 |
9M | 14.33 | 16.51 |
12M | 14.33 | 16.50 |